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Chapter 16 Monopolistic Competition

Chapter 16 Monopolistic Competition

Author: Matthew Lonn
Description:

Students will examine the characteristics of a firm that is monopolistically competitive.

Students will draw graphs of monopolistically competitive firms in the short and long run.

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Tutorial

Questions you should be able to answer after the lesson.

How is a monopolistically competitive firm different and similar from the other three types of market structures?

How do I draw a monopolistically competitive firm making a profit, taking a loss and breaking even?

What happens to monopolistically competitive firms in the long run and how would I draw that?

What is excess capacity?

Chapter 16 Notes

Drawing Monopolistic Competition